Short Interest in Domo, Inc. (NASDAQ:DOMO) Increases By 59.2%

Key Points

• Short interest in Domo surged 59.2% to 6.42 million shares as of July 31, representing 16.4% of shares outstanding and a short-interest ratio of 1.6 days.
• Analysts remain cautious: Domo has an average “Reduce” rating and a consensus price target of $3.95, with recent downgrades and target-price cuts.
• Insiders sold 394,396 shares worth approximately $1.22 million over the past three months, while institutional investors own 76.64% of the company.

Domo, Inc. (NASDAQ:DOMO - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,419,424 shares, an increase of 59.2% from the July 15th total of 4,033,282 shares. Based on an average trading volume of 4,005,153 shares, the short-interest ratio is presently 1.6 days. Currently, 16.4% of the company's shares are short sold.

Insider Buying and Selling

In other Domo news, insider Rpd Fund Management Llc sold 39,034 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $4.46, for a total transaction of $174,091.64. Following the sale, the insider directly owned 4,187,809 shares in the company, valued at $18,677,628.14. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joshua G. James sold 96,088 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $2.38, for a total value of $228,689.44. Following the completion of the sale, the chief executive officer directly owned 1,638,873 shares of the company's stock, valued at $3,900,517.74. The trade was a 5.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 394,396 shares of company stock worth $1,218,566. Insiders own 13.25% of the company's stock.

Hedge Funds Weigh In On Domo

Several hedge funds have recently bought and sold shares of DOMO. Headlands Technologies LLC purchased a new stake in Domo in the second quarter worth $42,000. Raymond James Financial Inc. bought a new position in shares of Domo in the second quarter worth about $122,000. Andina Capital Management LLC bought a new position in shares of Domo in the fourth quarter worth about $84,000. Oxford Asset Management LLP purchased a new position in Domo in the 4th quarter worth about $88,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Domo in the 4th quarter worth about $88,000. Institutional investors own 76.64% of the company's stock.

Analysts Set New Price Targets

DOMO has been the topic of several analyst reports. UBS Group reissued a "market underperform" rating on shares of Domo in a research report on Monday. Citizens Jmp restated a "market underperform" rating and issued a $2.25 price target on shares of Domo in a research report on Monday. Weiss Ratings raised shares of Domo from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 1st. DA Davidson reiterated a "neutral" rating and set a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. Finally, Stephens downgraded shares of Domo from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $5.00 to $4.00 in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Domo presently has an average rating of "Reduce" and a consensus target price of $3.95.

Domo Price Performance

Shares of NASDAQ:DOMO opened at $3.81 on Tuesday. The firm has a market capitalization of $172.01 million, a PE ratio of -2.86 and a beta of 1.76. The business has a 50 day simple moving average of $3.34 and a two-hundred day simple moving average of $3.70. Domo has a 1 year low of $1.84 and a 1 year high of $18.49.

About Domo

Domo, Inc NASDAQ: DOMO is a cloud-based software company that specializes in business intelligence and data analytics. The company's flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.

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